Last updated: Oct. 6, 2014
If you run a farm or other small business, be prepared for a tax auditor’s call. Previous reviews of Canada Revenue Agency’s (CRA) practices by the Canadian Attorney General’s office flagged “small and medium enterprises” (SMEs) for high levels of “non-compliance” with tax legislation. The report recommended more rigorous CRA audits … Read more
Last updated: Aug. 22, 2014
Yesterday the Minister of National Revenue, Kerry-Lynne Findlay, launched a mobile app for small businesses. The new app lets business users create custom reminders and alerts for key CRA due dates related to instalment payments, returns, and remittances with the goal to make it easier for businesses to fulfil their tax … Read more
Last updated: Aug. 5, 2014
FBC is pleased to announce we’re opening an office in Dartmouth, Nova Scotia. Our business started in 1952 in Ontario and over the past 62 years we have grown to 12 offices from Ontario to British Columbia. Now with our office opening in Dartmouth, Nova Scotia we’ll truly be able to … Read more
Last updated: Jul. 30, 2014
FBC is proud to support Team Warner We’re thrilled to announce a 3 year sponsorship with London, Ontario native Damian Warner through Team Warner! Damian competes for Canada in the Decathlon. Comprised of 10 track and field events, the Decathlon is considered to be the best all round test of an … Read more
Last updated: Jul. 2, 2014
If you own a business you must consider not only the details of your personal finances, but also the financial and income tax considerations that arise from your business. Meeting Business Obligations upon Death For most deciding how much life insurance coverage you need can be determined by a simple formula: … Read more
Last updated: Jun. 18, 2014
There are CRA hot buttons that are red flags for a tax audit. However, you and your tax specialist could also be completely above board and follow every rule in the Income Tax Act and CRA could still contact you for an audit. Tax audits can be random or triggered by … Read more
Last updated: Jun. 4, 2014
If one thing is for certain it’s that small business owners don’t mind saving money. After all, when you’re running your own shop, every cent counts. While some expenditures are absolutely vital to success, there are plenty of areas in which small business owners can cinch the belt. Here are 5 … Read more
Last updated: May. 14, 2014
Has CRA come calling? You may have been chosen by CRA for a tax audit because certain expenses look high or your reported income seems too low. It could just be the industry you are in is a target or perhaps CRA is auditing a friend, family member or supplier and … Read more
Last updated: May. 7, 2014
April 30 is behind you. You filed your business taxes. It sucked… but you got through it. Go ahead: Big exhale. Now let’s make sure you won’t have to go through the same chaos, stress, and anxiety when tax season rolls around next year. Instead of playing the “out … Read more